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April 2009
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Economy Creates 50% Increase In Repair Businesses

 

Gables Shoe Repair owner Jose Matute holds a picture of the shop's original owners. He says his business has seen 50 percent more service requests in the past year.
 
With the downturn in the economy, Americans are tightening their belts and pinching their pennies.  This in turn has caused an estimated 50% increase in business for local repair shops like Jose Matute’s Gables Shoe Repair shop in Miami.

Matute says its been a major change in his business and that his improving finances are allowing him to replace some of the older machines he uses in his 47 year old business.

Many repair operations, such as sewing machine repair shops and clothing alteration businesses are experiencing this same increase in their businesses, and most savvy shopkeepers are using the extra funds to invest in the future of their business,or are saving it for slower times that may come.

Smart consumers are opting to have damaged or aging goods repaired, rather than spend more money to purchase new clothes, shoes or appliances.  

Although it is difficult to predict when the current economic downturn might be over, these new trends in consumer habits will likely continue since shoppers are becoming comfortable with their more frugal ways and will not quickly return to exuberant spending habits once the economy does pick up.

Read more about Jose Matute’s story in the Miami Herald.

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